Oil prices are expected to fall about 20% cumulatively in June, with the market focusing on the Doha negotiations.

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Jinse Finance reports that on June 30, crude oil is likely to close lower for the month, as investors closely watch potential talks between the U.S. and Iran in Doha amid a fragile ceasefire agreement. As of 0653 Beijing time, the expiring August Brent crude oil futures fell 1%, about $20 lower than the closing price at the end of last month, a decline of approximately 22%. The more actively traded September contract fell 0.6%. KCM Trade Chief Market Analyst Tim Waterer said that investors are pricing in a positive outcome for the Doha talks, although navigation through the Strait of Hormuz has not truly returned to normal. The market holds a cautiously optimistic attitude but remains hedged on both sides until clearer signs of de-escalation emerge.
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